Market Reports - Solid!
Home Sales Solid in NovemberYear-to-date unit sales beat 2004 totals
Vancouver, BC – December 19, 2005. Frosty temperatures haven’t put a damper on BC’s vibrant real estate market, as home sales posted another strong showing in November.
The British Columbia Real Estate Association (BCREA) reports 7,720 homes, worth more than $2.66 billion, were sold in the province on the Multiple Listing Service® (MLS®) in November—a 34.18 per cent increase in dollar volume and a 15.14 per cent hike in the number of units sold during the same month last year.
Compared to 2004, November’s figures are up throughout much of the province. Ten of the 12 real estate boards reported at least a double-digit percentage increases in dollar volume sales over 2004, with seven boards reporting a boost of 25 per cent or more.
“Typically, this time of year tends to be somewhat slower for real estate sales,” said BCREA President Dave Barclay. “However, the numbers continue to show very strong market activity as we approach the end of the year.”
In terms of unit sales, November’s results push the 2005 year-to-date total to 100,586, eclipsing last year’s record of 96,314. Last month, BC topped the previous record for dollar volume, with the year-to-date figure at more than $33.2 million.
“In the past two months, we’ve seen new yearly records for both unit sales and dollar volume, and we still haven’t reached the end of December,” said Barclay. “These achievements wouldn’t have been possible without the hard work and expertise of REALTORS® over the past year and the outstanding service they provide to their clients.”
A study prepared by Clayton Research Associates Limited found the average BC home sold on the MLS® between 2002 and 2004 triggered an estimated $27,873 in additional spending, including legal fees, moving expenses, furniture and appliance purchases and taxes.
BCREA represents 12 member real estate boards and their more than 15,000 realtors on all provincial issues, providing an extensive communications network, standard forms, government relations, required post-licensing courses and continuing education. To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports growth that encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods.
Vancouver, BC – December 19, 2005. Frosty temperatures haven’t put a damper on BC’s vibrant real estate market, as home sales posted another strong showing in November.
The British Columbia Real Estate Association (BCREA) reports 7,720 homes, worth more than $2.66 billion, were sold in the province on the Multiple Listing Service® (MLS®) in November—a 34.18 per cent increase in dollar volume and a 15.14 per cent hike in the number of units sold during the same month last year.
Compared to 2004, November’s figures are up throughout much of the province. Ten of the 12 real estate boards reported at least a double-digit percentage increases in dollar volume sales over 2004, with seven boards reporting a boost of 25 per cent or more.
“Typically, this time of year tends to be somewhat slower for real estate sales,” said BCREA President Dave Barclay. “However, the numbers continue to show very strong market activity as we approach the end of the year.”
In terms of unit sales, November’s results push the 2005 year-to-date total to 100,586, eclipsing last year’s record of 96,314. Last month, BC topped the previous record for dollar volume, with the year-to-date figure at more than $33.2 million.
“In the past two months, we’ve seen new yearly records for both unit sales and dollar volume, and we still haven’t reached the end of December,” said Barclay. “These achievements wouldn’t have been possible without the hard work and expertise of REALTORS® over the past year and the outstanding service they provide to their clients.”
A study prepared by Clayton Research Associates Limited found the average BC home sold on the MLS® between 2002 and 2004 triggered an estimated $27,873 in additional spending, including legal fees, moving expenses, furniture and appliance purchases and taxes.
BCREA represents 12 member real estate boards and their more than 15,000 realtors on all provincial issues, providing an extensive communications network, standard forms, government relations, required post-licensing courses and continuing education. To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports growth that encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods.
posted by Virani Real Estate Advisors at
10:26 AM
